Cabot (NYSE:CBT) Given New $103.00 Price Target at UBS Group

Cabot (NYSE:CBT) had its target price hoisted by UBS Group from $100.00 to $103.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s target price would suggest a potential upside of 1.52% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft downgraded Cabot from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.67.

Cabot Stock Performance

Cabot stock traded up $5.52 during trading hours on Tuesday, reaching $101.46. 266,672 shares of the stock were exchanged, compared to its average volume of 302,496. The stock has a market cap of $5.62 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.00 and a beta of 1.27. The firm’s 50 day moving average is $90.82 and its 200 day moving average is $81.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04. Cabot has a 52-week low of $63.73 and a 52-week high of $103.46.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.66 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $1.33 EPS. Analysts predict that Cabot will post 6.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $79.91, for a total value of $4,413,669.03. Following the completion of the sale, the executive vice president now directly owns 97,201 shares in the company, valued at $7,767,331.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cabot

A number of large investors have recently modified their holdings of the company. Raymond James & Associates raised its position in Cabot by 5.0% in the third quarter. Raymond James & Associates now owns 41,878 shares of the specialty chemicals company’s stock valued at $2,901,000 after purchasing an additional 1,986 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cabot by 18.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,476 shares of the specialty chemicals company’s stock worth $795,000 after purchasing an additional 1,819 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Cabot by 17.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 175,336 shares of the specialty chemicals company’s stock valued at $12,146,000 after purchasing an additional 26,052 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Cabot in the third quarter worth about $248,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Cabot by 1,416.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 51,814 shares of the specialty chemicals company’s stock worth $3,589,000 after buying an additional 48,397 shares in the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.